With Successful Shanghai Listing of Subsidiary, Jinko Solar Well Placed for Future Growth

China’s Jinko Solar, one of the largest module manufacturers worldwide, has successfully listed its subsidiary firm, Jianxi Jinko on Shanghai’s Sci Tech Innovation Board (STAR market). The subsidiary, Jianxi Jinko, in fact saw its stock price more than double on day 1 of trading. It had issued 2 billion shares at RMB 5.00, or $0.79, for a total of $1.58 billion. After day1 of trading, the shares were steady above RMB 10 giving it a market cap much higher than the parent, at $16 billion. That should also augur well for firms like Waaree Energies in India, which are also on their way to a market listing soon.

Holding firm Jinko Solar Holdings now has a 58.62% stake in its manufacturing subsidiary. The hiving off of the manufacturing division helps it unlock value as manufacturing on a stand alone basis is considered a steady if unexciting business. Now the parent firm can focus harder on innovation, and expansion even as manufacturing runs on its own steam, thanks to access to public markets. Jinko Solar had closed 2020 with revenues of just over $5.4 Billion, a number it may beat in 2021 numbers, where it had guided for total shipments (including solar modules, cells and wafers) to be in the range of 22.8 GW to 24.3 GW. Thanks to higher prices that have prevailed through the year.

The NYSE listed JinkoSolar is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 31 GW for mono wafers, 19 GW for solar cells, and 36 GW for solar modules, as of September 30, 2021.

JinkoSolar has 9 productions facilities globally, 22 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United States, Mexico, Brazil, Chile, Australia, Portugal, Canada, Malaysia, UAE, Denmark, and global sales teams in China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi Arabia, Tunisia, Morocco, South Africa, Costa Rica, Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri Lanka, Thailand, Vietnam, Poland and Argentina, as of September 30, 2021.